Horngren's Financial & Managerial Accounting, The Managerial Chapters (6th Edition)
Horngren's Financial & Managerial Accounting, The Managerial Chapters (6th Edition)
6th Edition
ISBN: 9780134486857
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
bartleby

Concept explainers

bartleby

Videos

Textbook Question
Chapter 16, Problem 12SE

Marx and Tyler provides hair-cutting services in the local community. In February, the business cut the hair of 190 clients, earned $4,800 in revenues, and incurred the following operating costs:

Chapter 16, Problem 12SE, Marx and Tyler provides hair-cutting services in the local community. In February, the business cut

What was the cost of service to provide one haircut?

Blurred answer
Students have asked these similar questions
Marx and Tyler provides​ hair-cutting services in the local community. In February​, the business cut the hair of 210 ​clients, earned   $5,000 in​ revenues, and incurred the following operating​ costs: 1​(Click the icon to view the operating​ costs.)   What was the cost of service to provide one​ haircut?   Select the formula​ labels, then enter the amounts and compute the cost of service of providing one haircut. ​(Round your answer to the nearest​ cent.)   (1)   ÷ (2)   = Unit haircut cost   ÷   =   1: Data Table Hair Supplies Expense $750 Wages Expense 927 Utilities Expense 125 Depreciation Expense—Equipment 46 (1)        Operating income   Total number of haircuts   Total operating costs   Total revenues (2)        Operating income   Total number of haircuts   Total operating costs   Total revenues
Calculating unit cost per service Marx and Tyler provides hair-cutting services in the local community. In February, the business cut the hair of 190 clients, earned $4,800 in revenues, and incurred the following operating costs: What was the cost of service to provide one haircut?
Amy Company makes calculators. During the most recent accounting period, Amy paid $3,000 for raw materials, $5,000 for labor, and $12,000 for overhead costs that were inferred to make calculators. Amy started and completed 10,000 calculators, of which 5,000 were sold. Based on this information, how much expense would Amy recognize on the income statement?

Chapter 16 Solutions

Horngren's Financial & Managerial Accounting, The Managerial Chapters (6th Edition)

Ch. 16 - Prob. 11TICh. 16 - ABC Manufacturing Company has the following data...Ch. 16 - Prob. 13TICh. 16 - Match the definition to the key term. Value chain...Ch. 16 - Match the definition to the key term. 13. Triple...Ch. 16 - Prob. 16TICh. 16 - Prob. 17TICh. 16 - Prob. 18TICh. 16 - Prob. 1QCCh. 16 - Prob. 2QCCh. 16 - Dunaway Company reports the following costs for...Ch. 16 - Which of the following is a direct cost of...Ch. 16 - Which of the following is not part of...Ch. 16 - Prob. 6QCCh. 16 - Suppose a bakery reports the following...Ch. 16 - What is the cost of goods manufactured? a. 151,000...Ch. 16 - World-class businesses use which of these systems...Ch. 16 - Todays business environment is characterized by a....Ch. 16 - Prob. 1RQCh. 16 - List six differences between financial accounting...Ch. 16 - Explain the difference between line positions and...Ch. 16 - Prob. 4RQCh. 16 - Prob. 5RQCh. 16 - Describe a service company, and give an example.Ch. 16 - Prob. 7RQCh. 16 - Prob. 8RQCh. 16 - Prob. 9RQCh. 16 - Explain the difference between a direct cost and...Ch. 16 - What are the three manufacturing costs for a...Ch. 16 - Give five examples of manufacturing overhead.Ch. 16 - What are prime costs? Conversion costs?Ch. 16 - What are product costs?Ch. 16 - How do period costs differ from product costs?Ch. 16 - How is cost of goods manufactured calculated?Ch. 16 - Prob. 17RQCh. 16 - Prob. 18RQCh. 16 - How does a service company calculate unit cost per...Ch. 16 - Prob. 20RQCh. 16 - Prob. 1SECh. 16 - Prob. 2SECh. 16 - Granger Cards is a manufacturer of greeting cards....Ch. 16 - Computing manufacturing overhead Sunglasses...Ch. 16 - Identifying product costs and period costs...Ch. 16 - Use the following information for The Windshield...Ch. 16 - Prob. 7SECh. 16 - Computing direct materials used Tuscany, Inc. has...Ch. 16 - Computing cost of goods manufactured Use the...Ch. 16 - Use the following information to calculate the...Ch. 16 - Match the term with the correct definition. 1. A...Ch. 16 - Marx and Tyler provides hair-cutting services in...Ch. 16 - Comparing managerial accounting and financial...Ch. 16 - Prob. 14ECh. 16 - Wheels, Inc. manufactures wheels for bicycles,...Ch. 16 - Identifying differences between service,...Ch. 16 - Prob. 17ECh. 16 - Selected data for three companies are given below....Ch. 16 - Computing cost of goods manufactured Consider the...Ch. 16 - Wilson Corp., a lamp manufacturer, provided the...Ch. 16 - Computing cost of goods manufactured and cost of...Ch. 16 - Match the following terms to the appropriate...Ch. 16 - Buddy Grooming provides grooming services for...Ch. 16 - Conway Brush Company sells standard hair brushes....Ch. 16 - Natalia Wallace is the new controller for Smart...Ch. 16 - Lawlor, Inc. is the manufacturer of lawn care...Ch. 16 - Prob. 27APCh. 16 - Gourmet Bones manufactures its own brand of pet...Ch. 16 - Preparing a schedule of cost of goods manufactured...Ch. 16 - Root Shoe Company makes loafers. During the most...Ch. 16 - The Windshield Doctors repair chips in car...Ch. 16 - Prob. 32APCh. 16 - Ava Borzi is the new controller for Halo Software,...Ch. 16 - Langley, Inc. is the manufacturer of lawn care...Ch. 16 - Below are data for two companies: Requirements 1....Ch. 16 - Chewy Bones manufactures its own brand of pet chew...Ch. 16 - Prob. 37BPCh. 16 - True Fit Shoe Company makes loafers. During the...Ch. 16 - The Glass Doctors repair chips in car windshields....Ch. 16 - Prob. 40BPCh. 16 - This is the first problem in a sequence of...Ch. 16 - Winnebago Industries, Inc. is a leading...Ch. 16 - Prob. 1DCCh. 16 - Prob. 1EICh. 16 - In 100 words or fewer, explain the difference...
Knowledge Booster
Accounting
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • Ramsey ltd offers​ on-site, household appliance repairs to householders. Each​ month, there are 2300.00 direct labour hours worked on repairs to washing​ machines, dishwashers and freezers. During the most recent​ month, the business incurred the following​ expenses:       £ Direct materials   8,000 Direct labour   30,000 Overheads   20,000   During the​ month, a dishwasher was repaired for a customer. Replacement parts cost £135 and a technician took 5 hours to carry out the repair work. The business uses the direct labour hour basis for overhead recovery and charges an additional 40​% to the full cost of a job as a profit​ mark-up.   What should be the price charged to the customer for repairs to the​ dishwasher? ​(All calculations to nearest​ pence.)       Question content area bottom Part 1 The price charged to the customer for repairs to the dishwasher is £enter your response here   .
    Pretty Pillows, Mfg., manufactures silk throw pillows. Last month the company produced 3,890 pillows.The following incurred the following costs: Production facility utilities, $1,600; Depreciation on production equipment, $650; Indirect materials, $400; Direct materials, $5,300; Indirect labor, $1,000; Direct labor, $3,500; Sales commissions, $4,000; President's salary, $8,000; Insurance on production facility, $1,000; Advertising expense, $900; Rent on production facility, $6,000; Rent on sales office, $4,000; Legal expense, $600. WIP (beginning balance) $3,200 WIP (ending balance)  $2,400   Calculate the cost of the pillows manufactured.
    Pretty Pillows, Mfg., manufactures silk throw pillows. Last month the company produced 3,890 pillows.The following incurred the following costs: Production facility utilities, $1,600; Depreciation on production equipment, $650; Indirect materials, $400; Direct materials, $5,300; Indirect labor, $1,000; Direct labor, $3,500; Sales commissions, $4,000; President's salary, $8,000; Insurance on production facility, $1,000; Advertising expense, $900; Rent on production facility, $6,000; Rent on sales office, $4,000; Legal expense, $600. WIP (beginning balance) $3,200 WIP (ending balance)  $2,400   Determine the PRIME COST of manufacturing the pillows.
  • The owner of Magic Manufacturing, Tom Sawyer, is considering selling his business.  He provides his accountant with the following information for the month of March, which has just ended:                     Direct Materials Purchased                                            $ 1,300,000             Prime Costs                                                                     $ 4,360,000             Direct Labour rate ($/hour)                                           $ 30 per hour             Direct Materials, 1st March                                            $ 300,000             Direct Materials, 31st March                                          $ 180,000             Overhead Application Rate                                            $ 11 per direct labour hour             Actual Overhead Incurred                                              $ 1,250,000             Finished Goods, 1st March                                            $ 350,000             Finished Goods,…
    A greeting card company incurred the following costs associated with running its business last month: cardstock (thick paper), $9,820; ink, stickers, ribbons, and other card attachments, $7,520; rent on office space, $1,420; rent on factory space, $2,320; office salaries, $5,220; factory labor, $8,920; and advertising, $870.How much were its total product costs last month? Total product costs   $enter the total product costs in dollars  How much were its total period costs last month? Total period costs   $enter the total period costs in dollars
    Rutland Business Services (RBS) provides miscellaneous consulting and services to local businesses. In August, RBS worked for three clients. It worked 270 hours for Selden Contracting, 170 hours for Moenhart Insurance, and 230 hours for Englewood Medical Center. RBS bills clients at $545 an hour; its labor costs are $140 an hour. A total of 750 hours were worked in August with 80 hours not billable to clients. Overhead costs of $71,250 were incurred and were assigned to clients on the basis of direct labor-hours. Because 80 hours were not billable, some overhead was not assigned to jobs. RBS had $60,000 in marketing and administrative costs. All transactions were on account. Required:What are the revenue and cost per client? Prepare an income statement for August.
  • Based from the given data, answer the following questions. Show your computations.G Toy Shop manufactures children's plush toys and incurred the following during the process: (The following are within one month of production with 980 total manufactured plush toys).P 150,000 for materials such as cloth, pile textiles and stuffing materialsP 10,000 for threads and accessories P 12,000 building rentalP 45,000 salaries of 5 factory workersP 10,000 security guard salaryP 5,500 depreciation of machines and equipment1) What is the amount of Direct Materials?  a. P160,000 b. P150,000 c. P170,000 d. P10,000 2) What is the amount of the Unit Cost?  a. P245 b. P237 c. P250 d. P238 3) What is the amount of indirect materials?  a. P160,000 b. P10,000 c. P 0.00 d. P150,000 4) What is the amount of Direct labor?  a. P55,000 b. P10,000 c. P45,000 d. P0.005) What is the amount of Overhead Cost? a. P20,000b.…
    Based from the given data, answer the following questions. Show your computations. G Toy Shop manufactures children's plush toys and incurred the following during the process: (The following are within one month of production with 980 total manufactured plush toys). P 150,000 for materials such as cloth, pile textiles and stuffing materials P 10,000 for threads and accessories P 12,000 building rental P 45,000 salaries of 5 factory workers P 10,000 security guard salary P 5,500 depreciation of machines and equipment 10) What is the amount of Manufacturing Overhead Costs?  a. P37,500 b. P30,000 c. P45,500 d. P22,000
    In its first month of business, Soles for Souls, Inc., started and completed 5,000 shoes and sold 4,000 shoes during the month. Its cost for the month included: Advertising Costs $100 Direct materials per shoe $3.00 Direct labor per shoe $1.00 Allocated Manufacturing Overhead $1,000 Sales Manager's Salary $4,000 Calculate Soles for Soul's cost of goods manufactured for the month
  • Based from the given data, answer the following questions. Show your computations.G Toy Shop manufactures children's plush toys and incurred the following during the process: (The following are within one month of production with 980 total manufactured plush toys).P 150,000 for materials such as cloth, pile textiles and stuffing materialsP 10,000 for threads and accessoriesP 12,000 building rentalP 45,000 salaries of 5 factory workersP 10,000 security guard salaryP 5,500 depreciation of machines and equipment 4) What is the amount of Direct labor?  a. P55,000 b. P10,000 c. P45,000 d. P0.005) What is the amount of Overhead Cost? a. P20,000b. P17,500c. P25,500d. P5,500 6) What is the amount of the Product Cost? a. P242,500 b. P245,000 c. P232,500 d. 240,500
    Based from the given data, answer the following questions. Show your computations.G Toy Shop manufactures children's plush toys and incurred the following during the process: (The following are within one month of production with 980 total manufactured plush toys).P 150,000 for materials such as cloth, pile textiles and stuffing materialsP 10,000 for threads and accessoriesP 12,000 building rentalP 45,000 salaries of 5 factory workersP 10,000 security guard salaryP 5,500 depreciation of machines and equipment7) What is the amount of Indirect Labor?  a. P10,000 b. P0.00 c. P55,000 d. P45,000 8) What is the selling price if the mark up is 75%?  a. P415.00 b. P429.00 c. P420.00 d. P592.00 9) What is the percentage of mark-up used if the selling price is P499.00?  a. 111% b. 69% c. 53% d. 104%
    Hi owns and operates three Compufix shops in Caloocan City area. Compufix repairs and upgrades computers on site. In August, purchases of materials equaled P 9,750, the beginning inventory materials was P 850, and the ending inventory of materials was P 950. Payments for direct labor during the month totaled P 18,570. Overhead incurred was P 15,000. The Caloocan City shops also spent P 5,000 on advertising during the month. Administrative costs (primarily accounting and legal services) amounted to P 3,000 for the month. Revenues for August were P 60,400. What was the total cost of services for August?
    • SEE MORE QUESTIONS
    Recommended textbooks for you
  • Cornerstones of Cost Management (Cornerstones Ser...
    Accounting
    ISBN:9781305970663
    Author:Don R. Hansen, Maryanne M. Mowen
    Publisher:Cengage Learning
  • Cornerstones of Cost Management (Cornerstones Ser...
    Accounting
    ISBN:9781305970663
    Author:Don R. Hansen, Maryanne M. Mowen
    Publisher:Cengage Learning
    Cost Accounting - Definition, Purpose, Types, How it Works?; Author: WallStreetMojo;https://www.youtube.com/watch?v=AwrwUf8vYEY;License: Standard YouTube License, CC-BY